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Author Topic: Cobra Rate Discount  (Read 5997 times)

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Cathy

  • Guest
Cobra Rate Discount
« on: Mar 31, 2009, 05:26 »
Thought this might be useful for nukeworkers coming up on the summer:
Economic Stimulus Package and COBRA
The Economic Stimulus Package and COBRA provides up-to-the-minute information about how an employer can comply with the new requirements of the Act. Elizabeth H. Latchana J.D. of Fraser Trebilcock Davis & Dunlap, P.C., offers this advice for employers.

"The American Recovery and Reinvestment Tax Act of 2009 (the "Act") was signed into law on February 17, 2009. This new law dramatically affects employers whose group health plans are subject to COBRA, which includes virtually all employers with 20 or more employees.

"As an employer who is potentially impacted by this legislation, prompt attention must be paid to the substantial requirements under the Act and its affect on COBRA. Specifically, the Act provides a 65% government subsidy to employees who are involuntarily terminated between September 1, 2008 and December 31, 2009.

"The employer must first provide this payment and then be reimbursed by the government. Immediate action is required as the subsidy portion of the Act becomes pertinent for periods of coverage beginning on or after the enactment of the Act (i.e., March 1, 2009) and imposes numerous COBRA notice and other obligations on plan administrators and employers."

Find out more about the Economic Stimulus Package and COBRA
http://humanresources.about.com/od/benefits/a/cobra_changes.htm

Buddy Sorrell

  • Guest
Re: Cobra Rate Discount
« Reply #1 on: Mar 31, 2009, 09:38 »
This is great. I forgot about this.  Guess Bartlett will be covering some of my COBRA cost this summer while waiting for the government to reimburse them.  Should I call Julie Long at the Bartlett Insurance Dept. to see how this is going to work or will Bartlett take care of it for us?

snorky18

  • Guest
Re: Cobra Rate Discount
« Reply #2 on: Oct 02, 2009, 02:47 »
I know the post is old, but just an FYI for anyone still interested in the COBRA discount, read the fine print.

One of the fine print rules is that you can not be eligible for insurance under a spouse's plan

As an example, I got laid off, and Cobra was going to cost ~$300 a month. Initially (before reading fine print) I thought I would get it for $100/month, and uncle sam pays the other 65% of the premium.

The problem is, since my spouse is employed and I am "eligible" to get coverage through her for about $400/month, I can't get any help from the government on the Cobra premium at all, meaning I either pay the $300 for the cobra, the $400 for my wife insurance, or figure out something else (which is what I did, took out a private policy).
« Last Edit: Oct 02, 2009, 02:48 by snorky18 »

 


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